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Apollo Capital Management, L.P. Selects U.S. Bank as Trustee, Collateral Administrator and Custodian for Recent CLO Financing

MINNEAPOLIS, Aug 09, 2010 (BUSINESS WIRE) --

An affiliate of Apollo Capital Management, L.P. (together with its affiliated management entities, "Apollo") has selected U.S. Bank as trustee, collateral administrator and custodian for its recent ALM Funding 2010-1 transaction. U.S. Bank will be responsible for compliance oversight, collateral maintenance, noteholder communication and processing of principal and interest payments. The $325 million portfolio of assets for this transaction will primarily consist of senior secured bank loans.

Apollo is a leading global alternative asset manager with offices in New York, Los Angeles, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of over $53 billion as of December 31, 2009, in private equity, credit-oriented capital markets and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources.

"The U.S. Bank Corporate Trust Services team is excited to expand its relationship with Apollo," said Bryan Calder, president of U.S. Bank Corporate Trust Services. "We are pleased to see a new collateralized loan origination (CLO) financing come to market and are particularly excited about working with the Apollo team on this transaction."

U.S. Bank Corporate Trust Services is one of the nation's largest providers of trustee services with more than $2.1 trillion in assets under administration in municipal, corporate, asset-backed and international bonds. In addition, it provides paying agent, escrow agent and document collateral services through its network of 47 offices nationwide.

U.S. Bancorp (NYSE: USB), with $283 billion in assets as of June 30, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,002 banking offices in 24 states and 5,309 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at usbank.com.

SOURCE: U.S. Bancorp

U.S. Bancorp
Amy Frantti, Media Relations, 612-303-0733
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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